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Regime: Mixed, with VIX at 16.29 reflecting contained risk, but rising US 10Y yield at 4.439% suggesting real-rate concerns. Today’s market themes: Dominant: Real-rate repricing as inflation proves stickier than expected, driving USD strength and pressuring risk assets. Secondary: Geopolitical tensions (Iran) and its impact on oil supply. The setup: Markets…
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Where we are: The DXY is currently trading at 99.01, up 0.07% on the day and holding near the top of its intraday range of 98.90-99.15. The index is attempting to build on yesterday’s gains, trading slightly above the prior NY close near 98.94. Immediate resistance is seen at the intraday…
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Where we are: S&P 500 futures are currently trading at 7588.25, virtually unchanged on the day. The overnight range has been tight, between 7573.25 and 7595.75. This level is just below yesterday’s cash close of 7563.60, suggesting a slight consolidation after a strong run. What’s driving it: The underlying US macro…
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Where we are: Gold (COMEX) currently trades at $4548.8, up $21.6 (+0.48%) on the session. Intraday, we’ve seen a range of $4519.5 – $4574.3. This puts us above yesterday’s NY close, consolidating gains made during the Asian and European sessions. A sustained break above $4575 could signal further upside momentum. What’s…
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Where we are: EUR/USD trades at 1.1646, down 0.05% on the day, caught between 1.1625 and 1.1656. Fiber remains below the prior NY close, with momentum favoring a retest of the lower end of the range. The pair is struggling to hold ground against a broadly firming dollar as markets handicap…
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Where we are: Nasdaq futures are currently trading at 30320.50, down -0.03% and holding within a tight range of 30216.50-30370.50 established overnight. The cash Nasdaq 100 closed yesterday at 26917.47. We’re effectively flat heading into the US open, digesting yesterday’s gains and awaiting fresh catalysts. What’s driving it: The domestic picture…
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Where we are: GBP/USD trades at 1.3428, down 0.12% on the day, within a tight 1.3409-1.3450 range. The pair is struggling to hold gains after a brief push higher in early European trading. We remain below yesterday’s New York close, suggesting continued downward pressure. What’s driving it: Governor Bailey’s remarks this…
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Where we are: USD/JPY is trading at 159.27, hovering just above the overnight low of 159.20 and below the overnight high of 159.38. The pair remains close to levels that triggered suspected intervention in late April, fueling caution among traders. The current level is marginally higher versus yesterday’s NY close. What’s…
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Where we are: Dow futures are currently trading at 50860, up 110 points or 0.22% on the day. The cash Dow closed yesterday at 50669, and the futures have traded in a range of 50704-50904 so far today. This suggests a positive open in New York, potentially pushing the Dow to…
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Where we are: USD/CAD currently trades at 1.3825, up 0.29% on the day, testing the upper end of its intraday range of 1.3778-1.3830. The pair is breaking higher after consolidating around the 1.3800 level in early European trade. This move extends the recent weakness in the Canadian Dollar, bringing it to…
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Where we are: Bitcoin is currently trading at $73,233, down $473 or 0.64% on the day. Intraday range has been $73,102 – $73,838. This price action leaves it slightly below yesterday’s New York close. What’s driving it: Bitcoin is seeing muted action as traders await confirmation of spot ETF net flows,…
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Where we are: The FTSE 100 is currently trading at 23469, up 142 points or 0.61% on the day, trading in a range of 23327 to 23552. This puts it well above yesterday’s New York close, driven by a continued bid tone in early European trading. The index is testing the…
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Snapshot: AUD/USD trades at 0.7176, up 0.15%, buoyed by firmer copper prices (down only -0.32% despite broader risk-off signals). RBA reluctance to signal cuts, despite easing inflation and spending, remains the dominant driver; all eyes will be on next week’s GDP figures for confirmation of the macro trend. Watch 0.7200 as…
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Snapshot: WTI crude trades at 87.28, down 1.59% on the session, as reports of a potential US-Iran agreement to ease shipping restrictions in the Strait of Hormuz weighs heavily on sentiment. The market is currently ignoring a modestly firmer DXY at 99.01 and steady US yields. WTI support is eyed at…
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Snapshot: The Nikkei 225 is up 1.79% to 66330, driven by strong domestic retail sales and industrial production data released overnight. This positive momentum is further supported by a weaker Yen as JGB yields remain relatively stable, with the 2Y at 1.364% and the 10Y at 2.655%. Watch for resistance around…
